Macao’s new five-year plan seeks deeper ties with HK in finance, tourism and transport

The Macao SAR government on Tuesday unveiled proposals for its Third Five-Year Plan for Economic and Social Development, covering 2026 to 2030, with a focus on strengthening cooperation with Hong Kong.

A 40-day public consultation will run from Wednesday until June 28 to collect views on the proposals.

The document proposes that Macao actively participate in the development of the Greater Bay Area, integrate high-quality resources, deepen coordinated development and seek breakthroughs in key areas of cooperation.

It also seeks to deepen cooperation with the mainland in areas including trade, technology and culture, while comprehensively strengthening collaboration with Hong Kong in finance, tourism and livelihood-related matters.

On cross-border movement, the plan proposes measures to facilitate travel between Hong Kong and Macao and improve efficiency.

These include studying more convenient clearance arrangements, coordinating the allocation and increase of quotas for cross-border buses and taxis, advancing talks on regular quotas for private cars traveling between the two cities, and exploring ways to simplify procedures for cross-border trucks.

The document also proposes promoting the mutual recognition of driving qualifications and inspection results for heavy goods vehicles from both sides.

In finance, the blueprint suggests deepening cooperation with Hong Kong’s bond market, including facilitating members of Hong Kong’s Central Moneymarkets Unit to invest in bonds issued in Macao and promoting the coordinated development of the two regions’ bond markets.

The plan also calls for stronger cooperation with Hong Kong’s tourism industry to create joint Hong Kong-Macao travel products, launch Macao travel discounts and expand the international tourism market together.

In medicine and public health, the document proposes expanding exchanges in drug regulation, physician training, infectious disease prevention and control, disease vector control, public health testing and technical support, with the aim of improving public services and emergency response coordination.

Director of the Policy Research and Regional Development Bureau Cheong Chok Man said Hong Kong and Macao, as brother special administrative regions, have long maintained friendly cooperation.

He said the chief executives of both sides have exchanged frequent visits to promote complementary strengths and mutual development, adding that the Macao and Hong Kong governments had earlier held two exchange meetings and reached multiple consensuses on the five-year plan.

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